Sinopec Hits Oil Production Milestone in Turkmenistan
China's Sinopec Petrochemical Corporation has made significant strides in oil production in Turkmenistan, completing work worth over $170 million. Under a service contract with the Turkmennebit State Concern, Sinopec performed various operations including well workovers and rehabilitation, sidetracking, directional drilling, bottomhole stabilization, and water shutoff operations.
The deputy chairman of Turkmennebit, Batyr Jumayev, highlighted Sinopec's activities at the Turkmen-Chinese forum in Ashgabat, emphasizing that their high-tech work enabled new oil production to reach over 900,000 tons. Daily production has also reached more than 1,500 tons.
In addition to cooperation with Sinopec, Turkmennebit is implementing 29 other contracts with Chinese companies worth a total of over $439 million.